As Brazilian Economy Descends Into Crisis, Tech Is Growing Double Digits

The TechCrunch website paints a realistic and tough scenario for the Brazilian economy in the coming months, but at the same time, describes how the Tech Industry is actually booming!

As highlighted in the article online:

““Looking beyond the ‘crisis’, the adoption of smartphones keeps growing, ‘consumer internet’ keeps going, and companies are incorporating more technology to lower costs, seek cost efficiencies or provide a better service,” says KaszeK partner Hernan Kazah.”

“Although only half of Brazil’s population is online, it’s already the fifth largest internet and mobile economy in the world, a top five market for Facebook, Google and Twitter, and one of the fastest-growing smartphone markets globally — with another 100 million people starting to come online.”

“In Brazil, startups have been announcing at least one funding deal a week in recent months, as local and international venture capitalists have teamed up to invest at least $150M across mobile, ecommerce, education, banking, shipping, services and security sectors this summer.”

“If crisis remains for way too long, it could affect us,” Thees says, “but for right now what we have is a detachment between what we have in the startup ecosystem and the macro-economy. It would be better if we didn’t have it, but we might actually end up moving faster with it. Because when everything is great, people tend not to change behavior. People are more likely to pay attention to efficiency now, and they might be more willing to experiment with new things.”

To read the entire article, click here.

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